After receiving a clean chit from SEBI in the Hindonburg case, the Shares of Adani Group got a huge bounce on 19 September. Some stocks including Adani Port, Adani Enterprises, Adani Total Gas and Adani Power (Adani Power Share) rose by 13 percent. SEBI in his report incorrectly presented Hindenberg’s allegations against the group, causing heavy purchases in the Shares of Adani Group. Due to this boom, the joint market capitalization of 12 companies listed in the stock market has increased by Rs 69,000 crore, and this has evaluated the group to around Rs 13.96 lakh crore.
Adani Group listed companies include Adani Ports, Adani Enterprises, Adani Power, Adani Green Energy, Adani Energy Solutions, Adani Total Gas, Adani Wilmer Agri Business, Ambuja Cement, ACC Limited, NDTV, Orient Cement and Sanghi Industries. This news has increased the confidence of investors as well as brokerage firms towards the Group. This is the reason why the “buy” ratings of all companies of Brokerage House Adani Group are constantly increasing ratings.
Brokerage House has increased coverage on stock
Bloomberg’s data shows that since 2023, there has been a huge change in the perception of brokerage firms and market analysts about Adani group companies. Adani Enterprises now received 3 “buy” ratings, compared to only 1 in the end of March last year.
Company brokerage purchase calls
Ambuja Cement 36
Adani Ports 21
Adani Energy Solutions 8
Adani Green Energy 6
Adani Power 5
Adani Total Gas 1
Brokerage firm’s purchase calls on Adani Power’s shares have also increased from 1 to 5. Ada is a purchase call for Adani Total Gas, while Adani Green Energy, which had no brokerage coverage, now has 6 purchase calls. At the same time, 8 brokerage firms have given the opinion of shopping on the shares of Adani Energy Solutions, while earlier the number of purchases on this stock was only one. Ambuja Cements received the highest number of 36 purchases, while earlier this number was 27.
Why did the perception change?
There have been 3 major reasons for changing the opinion of large investors about the shares of Adani Group.
– First rapid improvement in share prices
– Better assessment of shares
– Group’s ambitious expansion plans, which are being embodied.